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Hall: EU deal will boost UK SMEs

A deal reached yesterday between MEPs and EU Member States will bring a big boost to SMEs across Europe, according to the leader of the Liberal Democrats in the European Parliament, Fiona Hall MEP.

The deal relates to the competitiveness of entreprises and small businesses (COSME).

Ms Hall, the Lib Dem European industry spokesperson, said:

“SMEs are the backbone of our economy. At this time of economic stagnation and high unemployment, we must support our SMEs and unlock their potential for growth and job creation. The COSME programme with its concrete measures to improve access to finance and markets for SMEs and its efforts to reduce bureaucracy and red tape will play a crucial role in boosting business here in the UK and across Europe.”

Yesterday, the Commission also published a follow-up to its consultation on the top ten pieces of EU regulation that can prove burdensome for SMEs.

Ms Hall added:

“Lib Dem MEPs are committed to the Think Small First principle and work tirelessly to cut unnecessary red tape when amending legislation in the Parliament.

“We will continue to work closely with SMEs to find the best ways to simplify EU regulations and minimise unnecessary bureaucracy.”

Jayne Almond, EU advisor at the Federation of Small Businesses, commented:

“The Commission has made a great start in identifying how the most onerous and disproportionate laws can be improved. Now it’s up to MEPs and the Member States to do their bit so small businesses notice a difference on the ground.”